 How do these credit card companies get away with ripping people off? |
| credit card companies are charging for you to pay your bill and adding on late fees on your account when you don't even get a statement, how?? there are laws against this, especially in new york.... |
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 I have hired a credit repair agency, Are they any good? |
| I need a mortgage and they claim they can remove most all bad debt from my credit history. I just wanted to get some feedback from those who have used this type of service. Thanks!... |
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 I applied for a credit card, got accepted but then changed my mind...? |
| But when I checked my bank account there is now a credit card account as well with 2 months of late payments and the annual fee tacked on to it. I don't want this credit card at all, but now I�... |
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 What are the average living expenses for a young couple living in their first house? |
| I mean things like certains taxes, gas bills etc. I know there is no fixed answer, but if any of you could help by letting me know some of the expensies or if you in a similar situation how much say ... |
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 Can someone suggest a good credit card? |
| I am looking at paypal or citizensbank credit card. I'm 20 and this will be my first credit card so please suggest a good ... |
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 Should I go for a student credit card or a regular credit card? |
| I am a college student trying to build my credit history. While shopping for credit cards, I notice that banks offer student credit cards for college students. Should I go with the student cards or ... |
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 Debit card using "credit" option? |
I know that when buying stuff at the counter i can use the credit option, then the merchant will place a hold on my fund.
then few days later they will officially deduct the amount.
... |
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 My credit report is 782. Is this good? |
| The site that provided me with the score says that it is equivalent to a "C grade." I am 22, own my own home, and usually pay my bills on time. Is 782 a good score? Considering my age? T... |
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 Credit cards? |
| My husband has a credit score of 525 and we are trying to improve his score. We are paying off all the debt that is on his credit with our tax return and we are looking for a good credit card for ... |
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 Can you pay for something at the store with all the credit card information but no credit card? |
My dad lives in a different state and is going to pay for my prom dress, so he gave me all his credit card information.
I could of course use it to buy a dress online, but that would be ... |
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 Debt collectors? |
| I have got a statement from a debt that is at least 9 years old , I had to quit work because of a disability and now I draw disability ,I have been told I should seek a attorney to see what to do ,... |
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 Credit scores? |
| whats the best way to raise my credit score? and also how does it work? does it matter if i paid off my vehicle and paid off my credit cards??? need some answers!!... |
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 HELP ME PLEASE!!! (dont ignore this question!!!)? |
| ok, i bought an iTunes card, my payment method is none, i entered my code, it worked it says 20$ on the top, everytime i try to buy something, it says please edit your payment info, i dont have a ... |
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 What should I do if a collection agency won't accept my payments? |
| Okay, so my husband has a debt with a collection agency. We want to pay off the debt and when I called I told them we could pay $100 a month. They said that they would not accept this because it ... |
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jsophiaon | To what extent does cancelling credit cards affect your credit ? |
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Pablo Diablo
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The simple act of cancelling is neither good nor bad. It is beneficial to have accounts that have been open and in good-standing for a long time, so sometimes you're better off leaving an account open. But, in general, there's no harm in closing an account. And you should definitely do so if you start to accumulate too many.
As for the response that any type of activity hurts your credit, that's just not true. Only hard inquiries (i.e. applying for a new card or loan) count against you. Soft inquiries (like you looking at your report) are recorded, but not counted against you. |
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Mariposa
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It shortens your average length of your revolving accounts. Creditors want to see that you have a long history of good credit and payments. |
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Glenn R
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With out credit cards your credit rating goes down the tubes. I know because it happened to me. I cut up my credit cards once a just paid cash for everthing from soup to nuts. When i went to reapply for the cards 15 years later i was turned down because i had no credit rating.
Dont spoil your credit rating by doing what i did! |
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fortitudinousskeptic
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It usually lowers the ratio of the amount of available credit you have remaining compared to the total credit you have, because you're normally cancelling paid off cards. That will LOWER your credit score. |
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supercreditguru
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As a nationally known personal credit score expert (book, radio shows, newspaper column), let me tell you about a Chicago radio show host who wondered why his credit scores dropped 160 points after he paid off all his credit cards and wondered why I said doing that was good for credit scores.
I asked him, "What else did you do?"
He replied, "I closed all my credit cards."
Does that answer your question?
Don't close your cards unless they are department store or "merchandise" cards, like Best Buy--and NEVER close your oldest account. |
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mvonhobe
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Any activity or change to your credit report, even LOOKING at it, including cancelling a card will give it a downward pull. It's a temporary effect and will climb back up assuming you are a good steward of your finances. |
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venusiaint
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It lowers the amount of available credit you have and it will lower your score, better to keep it open and not use it... |
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starting over
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If you cancel a card and it has a 0 balance, you are ok, it will help the credit rating. If you owe money and cancel it so you can't use it, many companies will assume that the credit card company closed it because of problems with you.
I had too many open cards with a 0 balance one time when I went to apply for a mortgage. The reason being that I could run up the balances and not be able to then pay for everything.
Keep a card or 2 that you have had for a long time, try to keep the balances low, you know, pay them off every month. |
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otherworldtrader@yahoo.com
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It should not but credit card companies swill punish you for doing that often. They do this by listing with the credit bureaus that they canceled it as a non desirable client. or they claimed they refused you further credit for other reasons.
You have to check it after wards.
It's like you are always smart to check several loan institutions out before buying a new car and financing it. But to get rates they have to be approved by creditors or loan companies like banks,'
If you apply to several credit places for credit it shows uip a red flag in your credit report and costs you points on your credit score. It's used as a way by loan companies to discredti you or punish you for not taking their loan and they all used it. |
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